Global oil and shipping group Monjasa Ltd on Monday (28 September) said while it works across niche markets like Vietnam, Thailand and South Korea, the Port of Singapore is actually where it sees the most significant rise on the demand-side.
“During our 12 years in Singapore, we have never recorded a stronger demand for our products and services than now,” said Morten Jacobsen, General Manager in Singapore.
“So far, we have welcomed 22% more new customers and supplied close to 50% more volume across SoutheastAsia compared to last year.
“Besides pricing, full visibility on sourcing and supply has a growing importance to our partners and we are pleased to see that our efforts are appreciated.”
Monjasa added it has a team of 10 traders working in Singapore and Vietnam in collaboration with Monjasa sister offices in other time zones.
The company noted that Singapore is the world’s largest bunkering hub and industry leading on high regulatory standards.
In 2019, Monjasa supplied a total of 517,424 tonnes of marine fuels across Southeast Asia.
Photo credit: Monjasa
Published: 29 September, 2020
Universal Alliance, BMS United, Digiland International, Goodwood Associates, Southernpec (Singapore), and Taigu Energy were involved in alleged circular fictitious trades of fuel oil during July 2015.
Bunker orders of ISO 8217:2010 spec LS 380 cSt 0.5% for Nord Gemini, Nord Titan, Ocean Rosemary, and Luzern were placed through global commodities trading and logistics house Trafigura Pte Ltd.
While Covid-19 concerns are important, Captain Rahul Choudhuri was quick to note this does not mean bunker fuel related issues have indeed disappeared from the shipping sector.
‘Therefore, representing the players of the Malaysian bunker industry, we sincerely hope that this matter can be refined and reconsidered immediately so that all parties benefit together,’ says communication.
Maureen Poh, a Director of Helmsman LLC, offers plain practical tips on the differences between US and EU Sanctions and shares some thoughts on what companies could do if they are potentially exposed to sanctioned entities.
‘We [Consort Bunkers] have the opinion that the bunker business in Singapore is not related to the widely reported earlier cargo commodity trading mishaps,’ company source tells Manifold Times.